A loan of $350 helped to purchase meat to sell in her business.


Dugersuren's story

Dugersuren O. is 50 years old and lives with her husband and two daughters in Arkhangai Province in central Mongolia. She and her family live in a yurt or "ger," which is a traditional Mongolian nomadic housing tent. Both of her daughters have finished school. Her oldest now has her own business and her youngest is a teacher.

O. raises livestock and sells meat in her town. She sells a variety of locally raised meats to her many customers. She started her business in 2003 with capital of 150,000 tugrugs (~$105 USD) and has built a successful operation over the years. Today, her business continues to grow quickly and she has a large base of loyal customers. Her working capital now exceeds 800,000 tugrugs (~$560 USD). O. is a hardworking businesswoman and attributes her success to her good accounting skills. For the future she says, “I hope to soon expand my business.”

She is requesting a 500,000 tugrug ($350 USD) loan to purchase meat to sell in her business.

About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

To get regular updates from XacBank, please join our lending team: XacBank-Mongolia Lending Team.

To lend to more Mongolian borrowers, please click here: Mongolian Borrowers on Kiva.



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